# 2026-2027 Course Catalog

**Source**: https://catalog.illinois.edu/graduate/aces/agricultural-applied-economics-ms/
**Parent**: https://catalog.illinois.edu/graduate/

*for the Master of Science in Agricultural and Applied Economics*

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## **Program Overview**

The ACE M.S. program offers considerable flexibility. Students using the degree as a foundation for a doctorate emphasize economic theory and analytical research tools. Students seeking the terminal master's degree focus their study on the concepts and analytical techniques used by analysts and managers in industries, governments, and other organizations.

## **Admission**

Graduate College requirements apply, including a 3.0 (A = 4.0) GPA for the last two years of undergraduate coursework and any graduate work completed. International applicants whose native language is not English are required to follow the Graduate College's Minimum Requirements for Admission. Graduate Record Examination (GRE) general test scores are required for all M.S. program applicants. Applicants to the Ph.D. program are required to provide a sample of their academic writing; a writing sample is optional for M.S. applicants. Students having an inadequate background in theory or quantitative methods will be asked to take additional coursework to prepare for graduate study. Students may commence study in either semester, but initial enrollment in fall semester is preferable.

## **Student Thesis and Dissertation Research**

Our students’ research uses economics to address important social and economic challenges. Thesis and dissertation topics include designing policies for environmental protection and resource management, evaluating international efforts to reduce poverty and hunger, and enhancing the performance of commodity and speculative markets.

## **Graduate Teaching Experience**

Although teaching is not a general Graduate College requirement, experience in teaching is considered an important part of the graduate experience in this program and is strongly recommended for those intending to pursue an academic career.

## **Financial Aid**

Graduate fellowships, assistantships, and tuition and fee waivers are awarded on a competitive basis.

Fellowships. The department offers fellowships from internal resources and by nominating students for college and campus fellowships. These fellowships, often combined with assistantship support, provide monetary stipends and, in most cases, exemptions from tuition and some student fees. Recipients must register for the equivalent of at least 12 hours of graduate credit in each semester and four hours in an eight-week summer session. Fellowship holders are encouraged to involve themselves with research and teaching in the department.

Assistantships. Research and teaching assistantships provide an opportunity for graduate students to work with faculty. Most research assistantships are funded by grants and contracts involving the analysis of contemporary issues. Most assistantships carry waivers of tuition and some fees.

Tuition and Fee Waivers. Waivers may be awarded. In most cases they are awarded to students with fellowship support from certain external programs.

*for the Master of Science in Agricultural and Applied Economics*

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Students must earn a 3.0 (A = 4.0) GPA for a minimum of 32 graduate hours of credit. M.S. students entering the ACE graduate program will be admitted only to the Thesis Option. For the Thesis Option, a thesis is prepared under the supervision of a faculty advisory committee. The thesis is defended in a formal oral examination, which usually coincides with an open departmental seminar, administered by the thesis committee. The Non-Thesis Option requires advanced coursework in lieu of a thesis. The Non-Thesis Option is available only to students already enrolled in the Thesis Option of the ACE M.S. program or in the ACE Ph.D. program. Application for admission to the Non-Thesis Option is by petition to the Department after at least two semesters of graduate coursework have been completed.

For additional details and requirements refer to the department's Graduate Program information for the [Master's degree](https://ace.illinois.edu/academics/graduate-degrees/master-science-agricultural-and-applied-economics) and the [Graduate College Handbook](https://grad.illinois.edu/handbooks-policies).

### **Thesis Option**

Course List

     | Code | Title | Hours |
| --- | --- | --- |
| [ACE 500](https://catalog.illinois.edu/search/?P=ACE%20500 "ACE 500") | Applied Economic Theory | 4 |
| 6 hours in quantitative and research methods, selected in consultation with an advisor (these do not count toward the 500 level course requirement) | | 6 |
| Electives | | 14 |
| [ACE 599](https://catalog.illinois.edu/search/?P=ACE%20599 "ACE 599") | Thesis Research | 8 |
| Total Hours | | 32 |

#### Other requirements

Grad Other Degree Requirements Single Column

 | Requirement |
| --- |
| Other requirements may overlap |
| Minimum Hours Required Within the Unit: 8 at the 500 level, not including [ACE 599](https://catalog.illinois.edu/search/?P=ACE%20599 "ACE 599") or independent study |
| Minimum 500-level Hours Required Overall: 12 |
| Minimum GPA: 3.0 |

### Non-Thesis Option

Course List

     | Code | Title | Hours |
| --- | --- | --- |
| 24 hours selected from the ACE doctoral core sequence, including at least 12 hours in applied economic theory and 8 hours in quantitative methods | | 24 |
| Electives | | 8 |
| Total Hours | | 32 |

#### Other Requirements

Grad Other Degree Requirements Single Column

 | Requirement |
| --- |
| Other requirements may overlap |
| Minimum Hours Required Within the Unit: 20 at the 500 level, not including [ACE 599](https://catalog.illinois.edu/search/?P=ACE%20599 "ACE 599") or independent study |
| Minimum 500-level Hours Required Overall: 20 |
| Minimum GPA: 3.0 |

*for the Master of Science in Agricultural and Applied Economics*

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1. Develop a knowledge base in, and demonstrate an understanding of how to use, microeconomic concepts to set up and analyze economic problems.
2. Identify, summarize, interpret, and critique relevant scholarly literature.
3. Demonstrate the ability to identify important research problems and formulate well-defined research objectives (e.g., testable hypotheses).
4. Identify and use appropriate quantitative methods to accomplish research objectives.
5. Effectively use written and verbal communication skills to present economic concepts and analyses.
6. Understand features of agriculture and natural resources (e.g., inherent risk, institutions, unique government policies, and cultural importance of food) that make them unique for applications of economic principles.
7. Practice highest levels of professional conduct (e.g., in professional activities take responsibility, be accountable, show integrity, have strong ethics, and respect diversity).

*for the Master of Science in Agricultural and Applied Economics*

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## **Department of Agricultural and Consumer Economics**

[Agricultural and Consumer Economics Department Website](https://ace.illinois.edu/)\
Department Head: Sarah Low ([salow2@illinois.edu](mailto:salow2@illinois.edu))\
Director of Graduate Studies & Graduate Recruiting and Admissions: Maria Teresa Serra Devesa ([tserra@illinois.edu](mailto:tserra@illinois.edu))\
326 Mumford Hall\
MC-710\
1301 West Gregory Drive\
Urbana, IL 61801\
Phone: (217) 333-1810\
Fax: (217) 333-5538\
[ace-grad@illinois.edu](mailto:ace-grad@illinois.edu)

## **College of Agricultural, Consumer & Environmental Sciences**

[College Website](https://aces.illinois.edu/)

## **Admissions**

[Grad College Admissions & Requirements](https://grad.illinois.edu/admissions/apply)